Abstract
The effective implementation of firm strategies plays an essential role in the achievement and sustained viability of businesses. This review study provides a comprehensive exploration of various dimensions of firm strategies, encompassing both their internal and external determinants of impact. The examination extends to an analysis of positive and negative ramifications that engender at the firm level and lists a practical example illustrating the application of these strategies, shedding light on their real-world relevance. The paper underscores the critical role of well-crafted firm strategies in shaping the fate of organizations. It emphasizes the need for continuous adaptation in response to evolving business environments, thereby providing a roadmap for firms aiming to secure their position and thrive in the contemporary marketplace.
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